USA: P&G delivers on fourth quarter and fiscal year results
The Procter & Gamble Company said today it delivered on commitments for fourth quarter and total fiscal year financial results. For the quarter ended June 30, unit volume grew three percent. Net sales for the quarter were $9.58 billion, down one percent. Excluding a three percent impact of unfavorable foreign exchange and a two percent impact from charges related to decisions to phase out certain initiatives, primarily Olay Cosmetics, sales increased four percent. As anticipated, the company reported a net loss for the quarter of $320 million or -$0.23 per share due to a $1.16 billion after-tax restructuring charge taken as part of the company's efforts to streamline its organization structure and business portfolio.
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